Daye Special Steel plans to acquire 86.5% stock equity of Xingcheng Special Steel
2019-01-03 17:59:15 [Print]
Daye Special Steel announced on January 2nd that it intended to purchase 86.50% stock equity of Xingcheng Special Steel held by Pacific Investment, Jiangyin Xintai, Jiangyin Yetai, Jiangyin Yangtai, Jiangyin Qingtai and Jiangyin Xinfu in the form of issuing shares at the unit price of 10 yuan. The above stock equity is estimated to be worth about 23.182 billion yuan.
After the completion of this transaction, the whole assets of the special steel module of CITIC Group will be listed on the A-share market, and the asset securitization level of A-share will be greatly improved. With an annual capacity of 13 million tons of special steel, the company has more than 3,000 types of steel and more than 5,000 specifications and will become the world's specialized special steel production enterprise with the largest scale and the most complete product scale.
With an annual capacity of more than 13 million tons of special steel, CITIC Pacific Special Steel Holdings is China's largest special steel group that has many subsidiaries including Daye Special Steel. As for Xingcheng Special Steel, it has an annual capacity of five million tons of iron, 6.9 million tons of steel and 6.6 million tons of billet products.
After the completion of this transaction, the whole assets of the special steel module of CITIC Group will be listed on the A-share market, and the asset securitization level of A-share will be greatly improved. With an annual capacity of 13 million tons of special steel, the company has more than 3,000 types of steel and more than 5,000 specifications and will become the world's specialized special steel production enterprise with the largest scale and the most complete product scale.
With an annual capacity of more than 13 million tons of special steel, CITIC Pacific Special Steel Holdings is China's largest special steel group that has many subsidiaries including Daye Special Steel. As for Xingcheng Special Steel, it has an annual capacity of five million tons of iron, 6.9 million tons of steel and 6.6 million tons of billet products.
